I have a feeling Powell is gonna pause on 5/2 If CRE crashes, we're gonna have systemic bank failures. He's walking a tight line. He may have to eat some inflation for a bit. The banks are more important. Sad but true. 54 points to go for my 4200 today. Edit: Wow... that was my 28,000 post. Now that's a sign.
You see 4200 today on the table today? That 4180 level didn't budge much yesterday, so I wasn't hoping for more than a move back up there and maybe an overshoot of that. Of course, if we start ripping above there it's not a long way up to 4200.
Got 80 as anticipated. Now that we’re here I’m uncertain. Looks like there’s enough juice for continuation, but I fear being too greedy here. NQ went green and keeps going.
I think it's reasonable to be open to bigger range expansion on mopex week, after 4 days of super tight range, 2 weeks of sideways movement, amidst huge divergence between price and sentiment. Honestly I'd be more surprised if we don't move out of this range sooner than later.
Confidence level...? Your short entry was excellent and it looked promising for a while, but when we failed to break below the range low at 50 - didn't that change the picture for your original thesis? Or is this just noise to you on a swing trade? I think this can go all the way to 4200 today. I wasn't expecting that today, but with 80 tagged and now going through it, it certainly looks possible.
Ditto…. Resting buy limits hit 50-55…. The beautiful thing about trading range bound PA is risk is clearly defined!